Reference no: EM132132472

ASSESSMENT 1 - PROJECT

This assessment consists of 3 parts, Part A, B and C.

Part A:
You are required to choose a product or service; research the existing market environment; and develop a marketing strategy for your chosen product or service.

In doing so, please follow the steps detailed below:

Step 1 Conduct thorough research to collect and analyse information on: The internal business environment: (key criteria to be included are as follows):

1. Describe the core activities, typical customer profile, business values and business direction

2. Identify and analyse information relating to the effectiveness of current and past marketing efforts

3. Review business performance information to identify strengths, weaknesses, opportunities, threats and critical success factors

4. Identify and record current capabilities and resources (e.g. the use of technology or e-business to develop and implement marketing strategies) including the need for specialist assistance (e.g. underperforming products and services with reasons for underperformance) and

The external business environment (PESTEL): (key criteria to be included are as follows):

1. Identify and analyse information on expected market growth or decline, along with the associated risk factors

2. Analyse projected changes in the labour force, population and economic activity that would affect your marketing

3. Current comparative market information which may include best practice information, benchmarking and competitor information

4. Industry and customer trends, emerging issues and developments which may be: economic, ecological, environmental, government activities, social and cultural, demographic, technological or industrial

5. Legal, ethical and sustainability constraints of the market and potential business impacts

6. Opportunities presented by new technologies

Step 2 Develop a marketing strategy

1 Detail the specific opportunities for your product, service based on your internal and external market analysis

2. Explore and list new and innovative marketing approaches and techniques that are appropriate to your product, service.

3. Outline the marketing channels and distribution networks you will use for your marketing communications and materials

4. Explain how you will integrate legal, ethical and sustainability considerations

5. Explain how you will consult with key stakeholders in this strategy development process.

Step 3 - Prepare a marketing plan

1. In the template provided, outline the methodology used to clearly communicate all priorities, responsibilities, timelines and budgets.

2. Explain how you will provide opportunities to colleagues to contribute to this marketing plan.

Step 4 - Prepare the monito ng and evaluat on strategies

The Evaluation strategy shall include:

1. Evaluation criteria to be used when evaluating the marketing initiatives

2. Benchmarks you will use to evaluate success of methods/impacts

3. Timeframes for evaluation

4. Provisions for adjustment/continuous improvement

5. Communication requirements

Step 5 - Prepare the implementation plan

The implementation plan shall include:

1. A detailed schedule of all required activities. This may include a Gantt chart or other suitable scheduling approaches.

2. An overview of monitoring procedures you will use, including the types of reports or data collection mechanisms.

3. Communication processes.

Part B:

Your assessor will arrange a time in class for you to present your marketing strategy and plan to your classmates.

Your presentation must include:

Why the research was conducted
• How the research was conducted (Internal and External Environment)
• How the information from the research was analysed
• Which key aspects informed the development of your marketing strategy
• An overview of the marketing strategy
• Details and components of the marketing plan including implementation strategies
• The monitoring and evaluation procedures used for the marketing activities
• An opportunity for your classmates to ask questions and provide feedback on your plan.

The key areas for the feedback need to focus on:
• Your ongoing evaluation process, including feedback and analysis from colleagues
• Suggested areas for improvement based on weaknesses that have been identified
• Proposed changes to the marketing strategy (channels, target market, timing, marketing approaches, resourcing, etc.) based on feedback and evaluation
After your presentation, write a summary of the feedback you received and any changes you will make as a result.

Part C:
You are now required to evaluate your marketing strategy and plan against the following criteria:
Consistency with overall marketing direction of your organisation Exposure achieved for your product or service
• Penetration of target market
• Cost-effectiveness of financial and human resources
• Completion of strategy within established timeframe

Your Assessor will provide you with specific benchmarks relevant to your chosen product or service.

Your evaluation should be presented in a report format and conclude with your recommendations for improvements to increase the effectiveness of your strategy and plan.

Ensure you submit the following documents:
• Research report
• Marketing strategy
• Marketing plan
• Monitoring and evaluation strategy
• Implementation plan
• Summary of feedback and changes made

ASSESSMENT 2 - WRITTEN TASK

Student Instructions:

• Read each question carefully and speak to your assessor if there is anything you are unsure of or don't understand.
• You will find some of the information in your course text books and may also need to conduct your own research on the internet.
• Ensure you note down any sources such as websites that you accessed to find the relevant information.
• Acknowledge clearly when and how you are drawing on the ideas or phrases of others.
• Read the Acumen Education Plagiarism Policy and Procedure carefully to understand the consequences that you could face if your work has been plagiarized.
• This task is to be completed in your own time, either at home or at Acumen Education, if you don't have Internet access at home.
• Speak to your assessor if there is any reason you are unable to complete this task.
• Submit this assessment by the due date given to you by your assessor.

Questions

When developing marketing strategies, you need to be aware of your business' capabilities and resources. What do you need to consider for each of the following aspects?

Communication capabilities
E-business capacity
Equipment capacity
Financial resources
Hours of operation
Human resources
Staff skill levels
Location and position

2 List 5 factors you must have knowledge of to develop an effective marketing strategy.

3 List 5 examples of sources of information for analysing the effectiveness of current and past marketing campaigns.

4 What is meant by cultural and social sustainability and how would you integrate this into your marketing strategy?

5 Provide a description for each of the following aspects used to analyse market share:

Overall market share -
Segment market share -
Relative market share -
Change in market share -

6  How does resource conservation and waste minimisation affect the economic sustainability of a marketing activities?

7 List 5 pieces of information you will need to perform a competitor analysis. Where can this information be sourced?

8a Name 4 internal issues which can impact on a business' marketing planning.

8b Name 4 external issues which can potentially result in new business opportunities for a TH&E business.

9 Using a SWOT analysis, define what needs to be analysed for the following areas:
Identify Strengths and Weaknesses - Internal Environment

Identify Opportunities and Threats - External Environment

10 What is a disadvantage of direct sales distribution?

11 Name 2 methods of indirect sales distribution.

12 Explain each of the following types of comparative market information:

Benchmarking -
Best Practice Information -
Competitor Information -

13 What is the primary tool of engagement for most people? How does this affect the marketing environment?

14 Provide 1 example of an emerging trend relevant to your sector in the TH&E industry:

15 List 3 aspects of a business' conduct covered by consumer law.

16 What is the role of Australian Consumer Law in relation to marketing?

17 What is the purpose of Copyright? How is copyright managed?

18 What impact does the Privacy Act have on business' marketing activities?

19 Outline one legal issue that has emerged with the rise of the Internet and online business.

20 What are the key principles which must be considered for ethical advertising? List 3 codes which regulate advertising:

21 Name the 3 aspects of the triple bottom line sustainability concept.

Attachment:- ASSESSMENTS.rar